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- December 11, 2020 Canadian Dollar Pauses 2020 Rally Against US Peer Amid Falling Crude Prices
- December 11, 2020 Pound Crashes Against Dollar As No-Deal Brexit Appears Imminent
- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
News
December 92020
Brazilian Real Weakens Against US Peer on Higher Inflation
The Brazilian real weakened against multiple currency rivals in the middle of the trading week, driven mostly by higher-than-expected inflation last month. Investors are also keeping an eye on monetary policy as the central bank is anticipated to leave interest rates at historic lows. Despite being one of the worst-performing currencies in foreign exchange markets, the real has rebounded more than 4% against the US dollar over the last month. In November, the consumer price […]
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December 92020
Japan Announces Economic Stimulus on Tuesday, Yen Weak
The Japanese yen was one of the weakest currencies today due to markets being in a risk-on mode, meaning that there was limited demand for safer currencies. The yen fell against almost all of its rivals, though managed to stay flat against the US dollar. Additionally, EUR/JPY has retreated to trade close to the opening level at the time of writing after rallying earlier. Yesterday, Japanese Prime Minister Yoshihide Suga announced a fresh […]
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December 92020
Australian Dollar Strongest as Markets Favor Riskier Currencies
The Australian dollar was the strongest currency on the Forex market today as the sentiment was favoring riskier currencies. Domestic macroeconomic data was supportive of Australia’s currency. The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 4.1% in December from November. The index edged up by 2.5% in the previous month. The report commented on the positive result: The surge in the Index continues. It is now 48% above the low in April and has reached its highest level […]
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December 92020
NZ Dollar Firm on Risk Appetite & Positive Domestic Data
The New Zealand dollar was trading in the green today, rising against the majority of most-traded currencies, except for the Australian dollar and the Great Britain pound. The kiwi rallied because the market sentiment seemed to favor riskier currencies. Domestic macroeconomic data was positive, while reports in China, New Zealand’s biggest trading partner, were mixed. Statistics New Zealand reported that manufacturing sales rose by 10.0%, seasonally adjusted, in the September quarter […]
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December 92020
Bulls Attempting a Takeover on AUD/NZD from 1.0551
The Australian versus New Zealand dollar currency pair seems to be willing to steer towards the north. Are the bears going to allow this? Long-term perspective From the 1.0566 low, the price entered into an ascending phase, one that would bring the formation of the 1.1043 high. Even if the bulls were determined, they were overpowered by the bears. So, they sent the price beneath the 1.0983 level that the bulls were targeting […]
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December 82020
Euro Trades Sideways Against Dollar on Mixed Euro Area Releases
The euro today traded sideways against the dollar amid multiple rally attempts that were followed by pullbacks as the bulls and bears fought for control. The EUR/USD ended up trading flat driven by the mixed investor sentiment as both the dollar and euro tried to rally unsuccessfully. The EUR/USD currency pair today traded between a high of 1.2133 and a low of 1.2096 and was within this range at the time of writing. The currency pair’s performance today was driven […]
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December 82020
US Dollar Posts Modest Rise on Strong Manufacturing, Construction Data
The US dollar is recording modest gains on Tuesday as investors remain cautious in the broader financial markets. The greenback is mostly finding support on better-than-expected manufacturing and construction data, as well as traders finalizing their year-end positions. In November, the IHS Markit manufacturing purchasing managers’ index (PMI) came in at 56.7, up from 53.4 in October. This is in line with the median estimate. The US manufacturing sector reported gains in output, new […]
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December 82020
Bulls Reject from 1.3261 on GBP/USD
The Great Britain pound versus United States dollar currency pair seems, aside from governed by a lot of volatility, steered by the bulls. Long-term perspective The low of 1.2075, a false piercing of the firm support area of 1.2092, gave birth to an ascending trend that, as of writing, extended until the 1.3539 high. The 1.3539 high comes as a bullish victory after they had to retreat following the bearish pressure that, subsequent to the pin bar on September the 1st, […]
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December 72020
Pound Crashes As Brexit Talks Turn Sour Amid EU/UK Hardline Positions
The Sterling pound today crashed against the dollar amid a deluge of negative Brexit headlines as both the EU and UK reiterated hardline positions. The GBP/USD currency pair’s plunge today was driven by reports of new problems in the Brexit talks jeopardizing the likelihood of a deal before December 31. The GBP/USD currency pair today crashed from a high of 1.3437 in the Asian market to a low of 1.3225 but had recouped almost half of its losses at the time […]
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December 72020
Chinese Yuan Pauses Rally Amid Escalating Sino-US Tensions
The Chinese yuan retreated from its best level in more than two years to kick off the trading week, driven mostly on escalating Sino-US geopolitical and trade tensions. But the pullback was capped by better-than-expected exports in November, signaling that the world’s second-largest economy is recovering at a healthy pace. The US government is set to slap fresh sanctions on at least one dozen Chinese officials over their roles in disqualifying elected […]
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